Prysmian Presents Wide Range of O&G Cable Systems at OTC

Prysmian Cables & Systems, a leading worldwide player in the energy and telecom cable industry, once again is playing a major role at OTC (Offshore Technology Conference) 2009 presenting a wide range of high-tech cable systems for the Oil & Gas Industry, including the latest AirguardTM and Umbilical technologies as well as a wide range of submarine power cables and Onshore/Offshore cables.

The Group also moved a significant step forward to be able to offer a comprehensive range of SURF products (Subsea Umbilicals, Risers and Flowlines), adding to its current production of both Steel and Thermoplastic Umbilicals a new production of Flexible Pipes for offshore oil & gas extraction. To this end, in 2008 Prysmian signed a four-year frame agreement with Petrobras for the design and supply of a wide range of dynamic risers and static flowlines, covering up to 6'' diameter pipes, suitable for deepwater. The Company is now proud to announce that the first prototype lengths of the newly-developed Flexible Pipes have been manufactured in full compliance with the required design and project specifications and testing is currently underway. Samples of both prototypes will be on display at the 2009 Offshore Technology Conference (OTC).

Prysmian plans to commence full production of flexible pipes in 2010 when the construction of the new production facility in Vila Velha, Brazil, constructed exclusively for the manufacturing of these products, will be completed. The new plant, worth an investment of approximately $110 million, will complement the existing plant dedicated to the production of Umbilicals, opened in early 2007.

Prysmian Cables & Systems is strongly committed to develop and provide products and services for the entire Oil & Gas Industry, throughout the supply chain -- from ESP exploration systems to refineries and processing plants -- as the ongoing contracts awarded for major fields worldwide (e.g. Kashagan in Kazakhstan, Pearl GTL in Qatar, etc.) demonstrate. In addition to its well-known range of traditional products complying with the strictest and severest international and local standards and specifications, Prysmian stands out also for its commitment to innovation. This is confirmed by the enthusiasm and the consensus gained in the US and Canada marketplace by the innovative AIRGUARDTM Cable System (adopted mostly in oil-processing and petrochemical applications for its outstanding resistance to mechanical stress and chemical attack), which is becoming more and more the reference standard product in these applications.